fiscal cliff

American  

noun

1. a governmental or personal financial crisis that is brought on by economic factors or policies.

   High housing costs have pushed many families over the fiscal cliff.

   Some municipalities are on the edge of a fiscal cliff after years of overspending.

2. (specifically) a financial crisis that threatens to disrupt the economy or personal finances and is brought on by steep governmental spending cuts and tax increases.

   Congressional legislation to avert the fiscal cliff.

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fiscal cliff British  

noun

1. informal a situation in which sudden changes in government expenditure and taxation have a profound effect on a country's economy

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Etymology

Origin of fiscal cliff

First recorded in 1950–55

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Example Sentences

See Examples For:

fiscal cliff

The current blueprint for reform comes from the Chicago Metropolitan Agency for Planning, which was directed by the state to produce a 134-page study in 2023 that anticipated the arrival of the fiscal cliff.

From Slate ● Apr. 14, 2025

The Dodgers’ thrilling playoff run comes as Los Angeles faces a fiscal cliff.

From Los Angeles Times ● Oct. 25, 2024

Even if the nation avoids tumbling over the fiscal cliff, the US economy could suffer.

From BBC ● May 8, 2023

The fiscal cliff is approaching quicker than economists initially expected.

From Washington Times ● May 2, 2023

Today, a similar reckoning faces the region and Metro, whose future is imperiled by a looming fiscal cliff that, left unaddressed, means passengers will face longer waits, reduced hours, shorter trains and other unhappy outcomes.

From Washington Post ● Nov. 4, 2022

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